{"id":62003,"date":"2025-04-15T16:37:26","date_gmt":"2025-04-15T14:37:26","guid":{"rendered":"https:\/\/blog.urbanitae.com\/make-whole\/"},"modified":"2025-04-25T11:35:21","modified_gmt":"2025-04-25T09:35:21","slug":"make-whole","status":"publish","type":"page","link":"https:\/\/blog.urbanitae.com\/fr\/glossaire\/make-whole\/","title":{"rendered":"Make-whole"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"62003\" class=\"elementor elementor-62003 elementor-60167\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d86d887 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d86d887\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8b49ddd\" data-id=\"8b49ddd\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-083b30b elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"083b30b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>De quoi s\u2019agit-il ?<\/h3><p style=\"color: #212121; font-family: Roboto, sans-serif; font-size: 16px;\">Le <strong>make-whole<\/strong> est une disposition contractuelle qui permet \u00e0 l\u2019emprunteur ou \u00e0 l\u2019\u00e9metteur d\u2019obligations d\u2019annuler une dette avant la date d\u2019\u00e9ch\u00e9ance, mais en \u00e9change du paiement d\u2019une p\u00e9nalit\u00e9 ou d\u2019une indemnit\u00e9 au pr\u00eateur ou aux investisseurs. Cette indemnit\u00e9 est con\u00e7ue pour couvrir la valeur actuelle des paiements d\u2019int\u00e9r\u00eats futurs que le pr\u00eateur cesserait de recevoir si la dette \u00e9tait pay\u00e9e plus t\u00f4t. <\/p><p style=\"color: #212121; font-family: Roboto, sans-serif; font-size: 16px;\"><strong>La<\/strong> provision de compensation est courante dans les \u00e9missions d\u2019obligations d\u2019entreprise ou les pr\u00eats \u00e0 long terme, et vise \u00e0 prot\u00e9ger les pr\u00eateurs contre la perte de revenus d\u2019int\u00e9r\u00eats qui se produirait si l\u2019emprunteur d\u00e9cidait de rembourser la dette par anticipation. Au lieu de permettre l\u2019annulation de la dette sans p\u00e9nalit\u00e9, make-whole s\u2019assure que le pr\u00eateur est indemnis\u00e9 de mani\u00e8re ad\u00e9quate pour les paiements d\u2019int\u00e9r\u00eats qui ne seront plus re\u00e7us en raison du remboursement anticip\u00e9. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11c28c4 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"11c28c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Principaux aspects \u00e0 prendre en compte<\/h3><p style=\"color: #212121; font-family: Roboto, sans-serif; font-size: 16px;\">Le paiement compensatoire est g\u00e9n\u00e9ralement calcul\u00e9 \u00e0 l\u2019aide d\u2019une formule qui tient compte du taux d\u2019int\u00e9r\u00eat sur les obligations ou le pr\u00eat, ainsi que de la valeur actuelle des paiements d\u2019int\u00e9r\u00eats futurs. Cette compensation permet au pr\u00eateur de ne pas subir de perte financi\u00e8re importante en raison du remboursement anticip\u00e9 du pr\u00eat ou de l\u2019obligation. <\/p><p style=\"color: #212121; font-family: Roboto, sans-serif; font-size: 16px;\">Bien que le rattrapage soit avantageux pour les pr\u00eateurs, il peut \u00e9galement \u00eatre co\u00fbteux pour les emprunteurs ou les \u00e9metteurs, car il implique le paiement d\u2019une somme suppl\u00e9mentaire pour rembourser la dette avant l\u2019\u00e9ch\u00e9ance. Cependant, pour les entreprises ou les particuliers qui cherchent \u00e0 r\u00e9duire le co\u00fbt total de la dette \u00e0 long terme, cette disposition peut offrir un moyen de refinancer \u00e0 des taux plus favorables. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-aa563c5 elementor-section-full_width elementor-section-stretched elementor-section-height-default elementor-section-height-default\" data-id=\"aa563c5\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-41114ac\" data-id=\"41114ac\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43f7095 elementor-widget elementor-widget-html\" data-id=\"43f7095\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n        <div class=\"qode-advanced-call-to-action qode-advanced-cta-gradient qode-advanced-cta-gradient-animation\" style=\"height:80px\">\r\n            <a class=\"advanced-cta-link\" href=\"https:\/\/mkt.urbanitae.com\/Urbanitae_suscripcion_newsletter.html?utm_source=blog&amp;utm_medium=link_blog&amp;utm_campaign=suscripcion_blog&amp;utm_content=boton\" target=\"_blank\" onclick=\"dataLayer.push({'event': 'ub_ga4_event', 'ub_ga4_event_name': 'newsletter', 'ub_ga4_event_element': 'aprende'})\"><\/a>\r\n            <div class=\"qode-advanced-cta-content\">\r\n                <span class=\"qode-advanced-cta-text-holder\" style=\"color:#FFFFFF;font-size:25px\">\r\n Abonnez-vous \u00e0 notre Newsletter <\/span>\r\n                <span class=\"qode-advanced-cta-icon-holder\" style=\"color:#FFFFFF;font-size:25px\">\r\n                    <span class=\"qode-advanced-cta-icon-holder-table\">\r\n                        <span class=\"qode-advanced-cta-icon-holder-cell\">\r\n                            <i class=\"qode_icon_font_awesome_5 fa5 fa fa-envelope-open-text qode-advanced-cta-icon\"><\/i> <\/span>\r\n                    <\/span>\r\n                <\/span>\r\n            <\/div>\r\n            <div class=\"qode-advanced-cta-background-holder\">\r\n                <span class=\"qode-advanced-cta-background-1 qode-type1-gradient-left-to-right\"><\/span>\r\n                <span class=\"qode-advanced-cta-background-2 qode-type1-gradient-left-to-right\"><\/span>\r\n                <span class=\"qode-advanced-cta-background-3\"><\/span>\r\n            <\/div>\r\n        <\/div>\r\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>De quoi s\u2019agit-il ? Le make-whole est une disposition contractuelle qui permet \u00e0 l\u2019emprunteur ou \u00e0 l\u2019\u00e9metteur d\u2019obligations d\u2019annuler une dette avant la date d\u2019\u00e9ch\u00e9ance, mais en \u00e9change du paiement d\u2019une p\u00e9nalit\u00e9 ou d\u2019une indemnit\u00e9 au pr\u00eateur ou aux investisseurs. Cette indemnit\u00e9 est con\u00e7ue pour couvrir la valeur actuelle des paiements d\u2019int\u00e9r\u00eats futurs que le [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":62174,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-62003","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Make-whole - Urbanitae Blog<\/title>\n<meta name=\"description\" content=\"Il s\u2019agit d\u2019une disposition contractuelle qui permet \u00e0 l\u2019emprunteur ou \u00e0 l\u2019\u00e9metteur de l\u2019obligation d\u2019annuler la dette avant la date d\u2019\u00e9ch\u00e9ance, mais en \u00e9change du paiement d\u2019une p\u00e9nalit\u00e9 ou d\u2019une indemnit\u00e9 au pr\u00eateur ou aux investisseurs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.urbanitae.com\/fr\/glossaire\/make-whole\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Make-whole - 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